Apple Computer (AAPL) is up $5.65 to $611.53 and seeing relative strength in active trading today. There doesn’t to be one specific news item driving shares higher, but optimism for a smaller tablet might be one catalyst. Piper Jaffray analysts said today they expect a “mini-Pad” to sell between 4 and 6 million units this the holiday season, or about 20 percent of total iPad sales. Share volume is 11.3 million so far and running about the normal levels — which is respectable given that other large caps like MSFT and INTC have anemic volume (1st percentile for the past year today). Meanwhile, 260,000 calls and 178,000 puts traded on the stock. Weekly 610 calls on Apple are the day’s most actively traded equity options contract. 23,444 traded. Weekly 615 calls, 620 calls, and 610 puts are seeing active trading as well. In fact, 44.5 percent of the total volume in Apple options today is in the Weekly options that expire Friday the 13th. 34.4 percent of the flow is in July options. So, only 21 percent of the volume in Apple is beyond the front-month.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.